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Prepare an income statement, balance sheet and statement of owner’s equity for the year ended January 31, 2018 from the following adjusted trial balance: P. S Supplies Adjusted Trial Balance December 31, 2012 Accounts Debit Credit Cash $2,000 Prepaid insurance 2,000 Office supplies 600 Office equipment 16,000 Accumulated depreciation $3,000 Accounts payable 5,000 Salaries payable 900 Unearned service revenue 2,500 C. Devours, capital 7,450 C. Devours, drawing 5,600 Service revenue 15,350 Salaries expense 4,600 Depreciation expense 1,000 Supplies expense 400 Insurance expense 2,000 Totals $34,200 $34,200

Prepare an income statement, balance sheet and statement of owner’s equity for the year ended January 31, 2018 from the following adjusted trial balance: P. S Supplies Adjusted Trial Balance December 31, 2012 Accounts Debit Credit Cash $2,000 Prepaid insurance 2,000 Office supplies 600 Office equipment 16,000 Accumulated depreciation $3,000 Accounts payable 5,000 Salaries payable 900 Unearned service revenue 2,500 C. Devours, capital 7,450 C. Devours, drawing 5,600 Service revenue 15,350 Salaries expense 4,600 Depreciation expense 1,000 Supplies expense 400 Insurance expense 2,000 Totals $34,200 $34,200

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Prepare an income statement, balance sheet and statement of owner’s equity for the
year ended January 31, 2018 from the following adjusted trial balance:
P. S Supplies
Adjusted Trial Balance
December 31, 2012
Accounts Debit Credit
Cash $2,000
Prepaid insurance 2,000
Office supplies 600
Office equipment 16,000
Accumulated depreciation $3,000
Accounts payable 5,000
Salaries payable 900
Unearned service revenue 2,500
C. Devours, capital 7,450
C. Devours, drawing 5,600
Service revenue 15,350
Salaries expense 4,600
Depreciation expense 1,000
Supplies expense 400
Insurance expense 2,000
Totals $34,200 $34,200

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